What will happen if there's no price rise for the halfing? - page 14.

NorrisK

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Quote from: OmegaStarScream on December 26, 2015, 06:24:11 AM

Quote from: helloeverybody on December 26, 2015, 05:19:31 AM

If the price doesnt rise then the miners stop mining because of lack of profit, Once this happens the network becomes less secure and bitcoin starts dying off. Whats to stop this from happening? Maybe we are getting to prices that cant be maintained with the current user base. I wasnt here at the last halfing and the price will need to be much higher so im not too sure what will happen.

Miners have more coins then everyone else so they are the one who define the price (they won't sell if it's not profitable for them) , beside ... logically Bitcoin price is based on Supply and demand , so It's impossible for the supply to get halved and the demand stays the same or rise and nothing at all happens to the price ...

The problem with your assumption is that the supply does not magically get halved.. Only the supply of NEW coins gets halved. Compared to the 14 million coins already out there, these new coins are like drops in the ocean.

The only way supply would magically halve is if 7 million coins would disappear or become unspendable, and this is not gonna happen, ever.

kpitti

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Nothing happen. If some miners will power off their miners the difficulty will be adjusted to keep transaction confirmation time as designed. This is a part of the Bitcoin and Blockchain.
We need to take care of 51% attack, if less miners will work. But in my opinion miners will keep to work just for less revenue unless they will earn some profit.
This questions are more and more often here as halving arrives.

avw1982

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Quote from: prodigy8 on December 27, 2015, 04:58:16 AM

If there's no price rise for the halving there still be profit for the miners.

If there is no profit they would stop or only could contribute to the network which it isn't.

Maybe the price will not increase immediately but after a week or month the changes will be seen.

Due to halving mining is already gonna reduce from 32000 to 16000. This itself cause price rise for sure.
It will take reflection very fast but It will affect bitcoin price on June I think and most probably price will less in the starting of 2016.

~Bitcoin~

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If some miners specially small miners leave than the big whales will get chance to mine coin easily with lower difficulty level so it will be profitable for them. So i don't think nothing gonna kill bitcoin and its network.

dishku

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Bitcoin will face serious crisis again and uncertainty regarding its future in that case. But I do not see this happening. This is what i think about halving next year.

jtalk

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No worries man nothing will happen.Miners will keep mining as they were doing before and price will keep climbing up little by by anyway.There is no reason for increase to not happen.

electronicfactura

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If somehow there is no increase in price at halving then too nothing will happen.What is my point of view on this issue is current price is good to continue mining on this and still after halving is done,mining will be profitable.

buddu

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There will be a significant rise in price after halving because cost of mining will increase and to cover these expenses it is necessary for mining to be profitable to secure and maintain the blockchain and bitcoin's network.

gkv9

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!!! RiSe aBovE ThE StoRm !!!

Quote from: The Sceptical Chymist on December 27, 2015, 03:34:52 PM

Everyone's said what needs to be said about this, but I'd like to add that there's always a similar issue that comes up with copper and precious metals mining, where those crazy mining companies will have to lay off all the miners if the price of silver drops below X, because X is the break-even point. But precious metals have been in a bear market for a few years now and miners are still mining...

Edit: I should have read two posts above, he said pretty much the same thing. I don't think we'll have an issue with the halving.

That's very true of you, miners will mine no matter what happens with the price...
There are some small scale miners who might get out of mining, but what about those big farms???
Halving won't affect them as with halving, the Chinese are even getting prepared for the most newly invented innovations that might take place, I am talking about "MINING HARDWARE" which will upgrade as well seeing the demand of markets...
Even after halving, the rewards may still be the same based on the fact that miners might mine double what they are mining currently...

The Sceptical Chymist

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Everyone's said what needs to be said about this, but I'd like to add that there's always a similar issue that comes up with copper and precious metals mining, where those crazy mining companies will have to lay off all the miners if the price of silver drops below X, because X is the break-even point. But precious metals have been in a bear market for a few years now and miners are still mining...

Edit: I should have read two posts above, he said pretty much the same thing. I don't think we'll have an issue with the halving.

bitlancr

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I assume we will see some home miners leaving the game or they have invested too much in cooling so they need to buy next generation miners.
Really anything can happen since we don't know about from which price they bought.

calaber24p

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Quote from: OmegaStarScream on December 26, 2015, 06:24:11 AM

Quote from: helloeverybody on December 26, 2015, 05:19:31 AM

If the price doesnt rise then the miners stop mining because of lack of profit, Once this happens the network becomes less secure and bitcoin starts dying off. Whats to stop this from happening? Maybe we are getting to prices that cant be maintained with the current user base. I wasnt here at the last halfing and the price will need to be much higher so im not too sure what will happen.

Miners have more coins then everyone else so they are the one who define the price (they won't sell if it's not profitable for them) , beside ... logically Bitcoin price is based on Supply and demand , so It's impossible for the supply to get halved and the demand stays the same or rise and nothing at all happens to the price ...

Most miners wont even mine if it is unprofitable for them to do so, the big ones are not in the business of speculating. It will happen like most gold and silver mines work in the world. The ones with low operational costs and profitability will continue to mine while the ones operating at a loss will temporarily halt operations or get out of the game. The scary part is miner centralization as most of the profitable mines are in a few locations and are huge entities.

helloeverybody

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Quote from: 1Referee on December 27, 2015, 06:25:48 AM

Some miners will probably stop their operations for a short time, untill the price goes up to such a level where they can make a profit again. That's the worst case scenario. Glad it won't happen. We will definitely see the price go up mich higher than current price level. It's the natural law of supply and demand. It will go up.

But i mean in theory we would need the price to rise to about double htat it is now to be making the same as miners currently are. Maybe the miners are making a really good profit right now and after the halfing they will just be making an alright profit. i suppose as long as there is some profit it wont matter.

1Referee

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Some miners will probably stop their operations for a short time, untill the price goes up to such a level where they can make a profit again. That's the worst case scenario. Glad it won't happen. We will definitely see the price go up mich higher than current price level. It's the natural law of supply and demand. It will go up.

ranochigo

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Nothing much. Even with the halving, bigger farms have more than enough profits for breaking even. Most farms have equipments that have been used to mine for a long time and hence would be very close or already hit ROI. Anything after that is pure profit, especially with the price increase recently. Even if the hashrate drops, users would pay a higher TX fee and thus incentivize more miners to participate. Bitcoin will not die off.

Amph

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Quote from: afbitcoins on December 27, 2015, 05:38:46 AM

If bitcoins dies, Dash will take number one spot. It already has more full nodes than bitcoin, and incentivises people to run them.

well dash has a different algo(x11 dash right), so it's more easy for people to mine it, thus making it more adopted, also there are no spv client for dash but only one

if you sum all the client for bitcoin i'm sure bitcoin has more

Xialla

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/dev/null

literally nothing.

neochiny

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c'mon be positive and stop worryng in nothing.
bitcoin can adjust to whatever happens, and if it happens.
in the end can be find solution and make it profitable again.
so why worry if it does not happen yet?
one thing im sure.. miners will profit.

anthonycamp

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the diff will countballanc it i mean if no rise the diff of btc mining can even stable and into 3 month after like september the new asics will take the rebound low price for better mining

afbitcoins

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If bitcoins dies, Dash will take number one spot. It already has more full nodes than bitcoin, and incentivises people to run them.

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